Clay, Pepper Advantage form JV to power Next Gen of Lending Startups

Joint Venture will see Clay‚Äôs Brandable Credit‚ĄĘ Platform integrated with Pepper Advantage‚Äôs proprietary loan management and data analytics platform Pepper Advantage invests seed funding; investment and joint venture will transform the fintech sector by providing a single, integrated platform that allows UK companies to launch their own lending programmes, addressing the significant challenges of loan origination, loan servicing compliance, technology and debt funding
BusinessWireJanuary 24, 20243 min

Clay Technologies, Inc., a platform that helps tech-enabled businesses launch and fund their own branded lending programmes, announced it has secured a strategic seed investment from Pepper Advantage, a leading global credit intelligence company. The two firms have also formed a strategic joint venture that will create an end-to-end credit platform that allows companies to launch comprehensive and bespoke lending offerings to customers.

Many businesses, including fintechs, start-ups, and large corporate enterprises, are looking to launch lending programmes to drive business growth. These firms want to offer their customers access to credit, such as personal loans, credit cards, or invoice factoring, to help fund everything from home improvements and automotive costs to assisting in consolidating and refinancing higher-interest debts. Their ability to launch a successful credit offering is filled with significant challenges, such as raising debt capital, ensuring regulatory compliance, and constructing effective credit servicing and infrastructure. This process can stretch over years, with businesses facing costs that are often prohibitive.

Clay co-founders David Yalland (CEO) and Andres Castano (CTO) know firsthand the challenges fintechs face as a result of building Updraft, a fintech lender founded by Yalland that has successfully secured over $500 million in debt and equity financing. Their direct experience to these challenges as they built a new credit offering motivated them to develop Clay, a solution aimed at simplifying the process for any company with a lending vision.

Clay¬†is a SaaS platform and API that empowers any company to launch their own Brandable Credit‚ĄĘ programme. A standout feature of Clay’s offering is its Debt-as-a-Service, which provides clients with integrated access to funding for their loans. This eliminates the need to seek external debt capital providers and significantly reduces the complexity and time involved in launching a lending offering.

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